CARDINAL_LOFTS_COMPANY_LI - Accounts

CARDINAL LOFTS COMPANY LIMITED - Company Information

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Company Registration No. 04714223 (England and Wales)

CARDINAL LOFTS COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

CARDINAL LOFTS COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CARDINAL LOFTS COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,500,683

1,501,025

Current assets

Stocks

610,000

540,000

Debtors

119,430

27,088

Cash at bank and in hand

10,136

160

739,566

567,248

Creditors: amounts falling due within one year

(2,049,487)

(1,823,877)

Net current liabilities

(1,309,921)

(1,256,629)

Total assets less current liabilities

190,762

244,396

Capital and reserves

Called up share capital

1,000

Revaluation reserve

791,000

Profit and loss account

(601,238)

(547,604)

Shareholders' funds

190,762

244,396

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 March 2017

Mr Quinton Hembry

Maxwell Hembry

Director

Company Registration No. 04714223

CARDINAL LOFTS COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Fixtures, fittings & equipment

Fixed assets

Tangible assets

Cost or valuation

At 1 September 2014 & at 31 August 2015

1,501,367

Depreciation

At 1 September 2014

342

Charge for the year

342

At 31 August 2015

684

Net book value

At 31 August 2015

1,500,683

At 31 August 2014

1,501,025

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £1,225,649 (2014 - £1,225,649).

CARDINAL LOFTS COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000